The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-11-06
SOME QUEER SPECULATIVE DEALS
With Interesting Facts Concerni.g the
Man Inter Rtad In Them.


With Interesting Facts Concerni- g the
Men Inter. sted in Them.
New YORK, Nov. 5--Curiously enough,
the only exchange where there Is any real
speculative Juror just now is the Metal
! Exchange in the tomb-like old Seventh
Ward Bank building, at Pearl street and
Buring slip Stocks are dull because the
cowardly bulls have become demoralized by
the raids of such flying CoSjacks as Add
son Cammack, Arthur +. Bateman, Harvey
Durand and others, to whom Jay Gould
anxious to humble the AtchiSon, Topeka
ana Santa Fee, as well as for other reasons,
| has given a Mephistophelean wink. Gould
has thimblerigged Manhattan, knitted
Henry Hart, picked CARROTS pocket of the
Baltimore and Ohio Telegraph, and now he
wants to bully the Atchison out of his
| Southwestern field. His play on the tinan-
cal chess board for months past has all
been toward the depression of railroad
| property in order to promote his own
particular schemes by the shaking out OF
powerful opponents whom ne has swallowed
| with the NAV of crocodile Speculation
| is so lifeless at the Stock Exchange that
many brokers are not making enough to pay
! office rents. At the Produce Exchange
there is no speculative life. Bulls On wheat
have received such severe punishment with
| in the last three years that they hardly dare
| 30 say their souls are their own. y. b.
! Rean is said to be bull on wheat, but he does
nothing to prove it, and he aud the other
members of the notorious Chicago wreckerS,
known as the Big Four, are largely respon-
Sible, through the persistent selling OF what
they did not possess, for the disastrous de-
cline in the value OF q great staple within
| the last few years. Edward Cottrell pro-
fesses TO be Il bull on wheat for long pull,
bl. the Snptulution is eluUcriSu that n1
| finds it advisable 10 make turns on The short
| side. Charles RouS, the mOroSe knight OF
! speculation from Baltimore, is a bear
on wheat. Nat Jones is said to have made
a quick turn on the bull side in wheat with
Addison Cammack for company and is now
busy trying to depress the value of railroad
property in the Northwest. There is no one
| TO take an aggressive stand on either wheat
Or corn. Hutchinson Loaded up TO the gun
wales with corn a few months ago on the
strength of the drought at the West, but Is
| now trying to get somebody to hold the bag
| until ne has filled it and got out. At tie
Cotton Exchange it is considered too early
to bull the market, notwithstanding the
large exports and the enormous consump-
ton here and abroad, and such houses as
| Lehman Brothers, Inman, Swan ~ Co,
| Henry Hentz & Co and Fielding q Gwynne
! are on the bear side. Com. Woodward
| thunders bull points through his
| trumpet as commander of the steam yacht
| Wanda and Roll Brothers, the Greeks, with
ramifcations throughout the world and a
capital of $780, 900, are bulls: but the
outside public lets cotton alone and there is
nothing to do but to occasionally pinch
| moderate short interest w II. Crossnan,
| Joseph j O'Donohue, V. & a. Meyer, Will
| liams, Russell & Co., Amsinck 6, Co., Field,
| Lindley & Co, and Others are trying to bull
coffee, partly for a clique of scheming but
| ~ Zil
public thinks that the price is already lidicu-
| lousy high. Any outsida interest existing
| finds expression i'll short sales through Henry
| Ciews q Co, Power, Son a Co. S1iddy,
| Milford q Co.. DR.. j. H. Parker, Lehman
| Bros, Siegfried Gruner and others, while
| Sawyer, Wallace q Co within n short time
| have tipped over fully 100000 bags or more
than l3,0O0,C 100 pounds. The cotton people
| are all fighting the bull side in cotlee
At all of these exchanges, in a word. there
| is speculative death, ana the brokers are in
mourning. Tue trading is mostly pro
fessiona.'-that is, between room operators
and the lamb stands afar off and cannot
be lured in the butchers pasture by glib
(, 5tlll OF tlowery food. But at the Metal Ex-
:, change, as | began to say, there is genuine
speculative furor. Iron is neglected in spite
of the entertaining romauceS frequently
published by President B. q. Clark of the
| Thomas Iron Company, according to which
the future has an exceedingly roSeate aspect
| But in copper the transactionSaree enormous
| They frequently exceed 2,00O, 900 pounds in
a day. Wall street people and banks
here and in New England nave been
buying it here and in London,
taking Lake Superior copper and
Chilli bars Some time ago a clique was
formed i'll Paris to bull copper. ana opera
tors in London and New York followed
their lead Within a short time the price
has advanced equal to S25 ton in London,
and it has been steadily rising here. The
French clique has employed brokers here
to buy right and left and keep the steam up,
Corwith the big lead operator of Chicago,
is said 10 be quietly fighting the deal, but
this is also denied. The leading bulls
here are the Hendricks and Lewiston
brothers and John Davol, the latter of
whom, however, appears to be buying
for immediate delivery and selling futures
for the carrying charges The bulls say
that copper ought to go up because the con
sumption is greater than the production.
and that the Calumet and Hecla mine was
not worked for three months, owing to the
great fire there some time ago. The prob
ability is that as prices advance the produc-
ton of other mines will be increased, and
thus check he imposed on the raging bulls.
There appear to be no bears and they are
re lily necessary to an advance. With the
crowd all running one way the worst breaks
in prices take place.
The other speculative deal at the Metal
Exchange is in tin, strange as that may
seem to many a French syndicate has
cornered Strauss, the big London operator,
who has fought them for some time, but is
now trying to cover his large short sales.
, Within a short time tin has advanced equal
to $75 ton in London. Within week ii
has risen $50 ton here, and it is now S6J
ton higher than year ago. The French
, | CLIQUE have a broker here to manipulate
this market, and the American bears, after
climbing high to cover their shorts, are now
quietly sucking their paws, and are not
attempting to fight the deal AS large
holders, Phelps, Dodge & Co, Maylor &
Co. and John Duval are interested in the
advance. The Frenchmen are giving the
, Prussians Il Marengo for Sedan, but when
the shorts have been covered, prices are
likely to come down with a crash.
OSCAR MILLNEGHRX RIGGS